EQT Midstream Partners, LP (EQM) Rating Increased to Sell at BidaskClub
BidaskClub upgraded shares of EQT Midstream Partners, LP (NYSE:EQM) from a strong sell rating to a sell rating in a research note released on Friday morning.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a hold rating and set a $79.00 price objective on shares of EQT Midstream Partners, in a report on Friday, July 21st. Morgan Stanley increased their price objective on EQT Midstream Partners, from $86.00 to $87.00 and gave the stock an overweight rating in a report on Friday, July 14th. TheStreet cut EQT Midstream Partners, from a b rating to a c+ rating in a report on Thursday, June 15th. Scotiabank set a $94.00 price objective on EQT Midstream Partners, and gave the stock a hold rating in a report on Saturday, July 22nd. Finally, ValuEngine cut EQT Midstream Partners, from a buy rating to a hold rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. EQT Midstream Partners, presently has a consensus rating of Hold and an average target price of $89.50.
Shares of EQT Midstream Partners, (NYSE EQM) opened at 74.27 on Friday. The firm has a 50-day moving average of $75.40 and a 200 day moving average of $76.06. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 14.32 and a beta of 0.89. EQT Midstream Partners, has a one year low of $69.20 and a one year high of $82.99.
EQT Midstream Partners, (NYSE:EQM) last posted its quarterly earnings results on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.04. The firm had revenue of $199 million for the quarter, compared to the consensus estimate of $195 million. EQT Midstream Partners, had a return on equity of 25.61% and a net margin of 66.99%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. Equities research analysts anticipate that EQT Midstream Partners, will post $5.50 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were issued a dividend of $0.935 per share. This is a boost from EQT Midstream Partners,’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $3.74 dividend on an annualized basis and a yield of 5.04%. EQT Midstream Partners,’s dividend payout ratio is 72.34%.
Several hedge funds have recently added to or reduced their stakes in EQM. Janney Montgomery Scott LLC boosted its stake in EQT Midstream Partners, by 86.0% in the first quarter. Janney Montgomery Scott LLC now owns 12,934 shares of the pipeline company’s stock valued at $995,000 after buying an additional 5,979 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in EQT Midstream Partners, during the first quarter valued at $392,000. Linscomb & Williams Inc. acquired a new stake in EQT Midstream Partners, during the first quarter valued at $317,000. Jennison Associates LLC boosted its stake in EQT Midstream Partners, by 31.5% in the first quarter. Jennison Associates LLC now owns 220,305 shares of the pipeline company’s stock valued at $16,941,000 after buying an additional 52,713 shares during the last quarter. Finally, ING Groep NV acquired a new stake in EQT Midstream Partners, during the first quarter valued at $15,342,000. 73.44% of the stock is currently owned by hedge funds and other institutional investors.
About EQT Midstream Partners,
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.
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